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    sonny615's Avatar
    sonny615 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 15, 2015, 06:25 AM
    Need help analyzing trial balance
    Hi,

    I am a young economist. Most of my work relates to budget and I have very little experience with trial balance.
    I need your help understanding the attached trial balance. Mainly if anything stands out, if you recognize anything important, any mistakes (i.e. - I see no balance in Oct, Sep & Nov) and how can I fix them.

    What I also need to understand is how come assets (like cash in bank) are negative. Is this possible in such report or is it a mistake?

    Please go easy on me - detailed answers are appreciated.
    THANK YOU!

    trial balance.xls
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Jan 16, 2015, 07:19 AM
    Negative cash balance is known as bank overdraft in other words a liability
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